Revamping one’s finance must be a big topic during the new years as there were so many news sources that had topics about this. There were these segments I saw as well where credit counselors were giving people advice on how to trim down their credit card debt. The answer was the most common one which kind of annoys me the most too which is you should simply tear up your credit card and resort to using cash.
While I understand the logic behind it, I always can’t help to think that by doing this you are also telling people to get rid of what can be a good source to get free money and services, such as additional warranties. At the same time, your credit card is in many ways a great way to develop a good credit history. It almost got me curious as to what qualifies one to be a credit counselor, so to speak. Example, does me being debt free and always paying off my credit cards in full make me an expert in any way?
It almost made me so curious that I would be willing to work a job as one or even on a volunteer basis to see the types of challenges that an average person faces and whether or not you can turn someone around by teaching them how to use a credit card to their advantage. Anyone in the Vancouver area or anywhere else want to give me a real life credit debt scenario to see if not tearing up a credit card is doable? Would actually be fun to document if there are any takers too as I personally believe managing finances should be a fun part of one’s daily life.